Tuesday, September 26, 2017

Advice for winning entrepreneursHarvey Mackay

Ever since I was a kid, I wanted to be an entrepreneur. I still have trouble spelling the word, but I didn’t let that stop me.

I’ve always believed that entrepreneurs are the unsung heroes of our economy. They’re the ones who start the companies that create the majority of new jobs.

The term “entrepreneur” originally meant a person who led a military expedition. It has come to mean an innovative, creative leader who undertakes a risky venture in the hope of creating wealth and capital.

Eric Sevareid, the legendary radio and TV commentator, wrote. "Entrepreneurs are the lead players in the drama [of business]. In at least four specific settings their role is crucial. A new industry... a new product in an existing industry... the one who opens up new markets... when, so to speak, the economic ground shifts....The category of entrepreneur includes all the people who set out to change the corner of the business world in which they find themselves – all the people, in a word, who push the system along its restless path.”

Entrepreneurs are a distinct group. They often like to lead the pack. Fulfillment often means more to them than money. Entrepreneurs believe in making things happen. They are seldom content. They’re constantly looking for new things. They have faith in their ideas and are risk takers.

In short, they aren’t satisfied with the status quo. They need to change, improve, innovate and invent.

Actor Alan Alda, the star of the TV show “MASH,” gave some great advice to his daughter: “Be brave enough to live life creatively. The creative is the place where no one else has ever been. You have to leave the city of your comfort and go into the wilderness of your intuition. You can't get there by bus, only by hard work and risk and by not quite knowing what you're doing. What you'll discover will be wonderful. What you'll discover will be yourself.”

Maybe you don’t want to start your own company. Maybe you aren’t ready to strike out on your own. Maybe the economic climate makes financing tough. Maybe you need a little more time to develop your idea. I understand that. I toiled for a few years at an established company to prepare myself.

But you undoubtedly want to be the master of your own career. You can let your entrepreneurial spirit come through whether you are your own boss or not. You can cut your entrepreneurial teeth at jobs that present opportunities for innovative thinking and management experience. Companies large and small will always find room for employees with attitudes and abilities that will advance their goals. It’s a win-win situation to be sure.

Here’s some valuable advice that’s useful for anyone wanting to get ahead. You can apply these tips to your career, and your life, whatever your path might be:

Network. The more people you know, in your business and outside of it, the more sources of information, advice and support you have to rely on. The more you exercise your networking muscles, the stronger they get – and the easier networking becomes.

Don’t listen to naysayers. Some people will always say you can’t succeed. Listen to everyone, but don’t pay undue attention to “friends” with negative attitudes.

Learn from mistakes. You’re going to make them. Most successful people fail from time to time, but they don’t let setbacks stop them. Commit yourself to learning from your mistakes so you don’t make them again.

Be honest. No matter what you’re engaged in, you need associates, friends, employees, investors and other stakeholders to trust your word. Tell the truth at all times to build solid relationships.

Be flexible. No matter how good your ideas are, or how committed you are to your goals, remember that things change. Be ready to modify your plans so you can take advantage of opportunities that present themselves.

Find a mentor (or two or three). Seek talented people willing to share their expertise and wisdom. You can’t know everything, especially when you’re starting out, so an experienced mentor can supply guidance that will help you avoid the obvious mistakes.

Mackay’s Moral: Entrepreneurship is living a few years of your life like most people won’t, so that you can spend the rest of your life like most people can’t.